Mayfair 101 Group has had a $30 million penalty imposed upon it by the Federal Court for making false or misleading claims in its product advertising.

ASIC has launched a Financial Advice Hub to centralise regulatory information after feedback suggested a more user-friendly approach was needed.

ASIC has launched six civil penalty proceedings against Westpac following an investigation that allegedly found clients were wrongly charged, even while deceased.

The Federal Court has ordered La Trobe Asset Management to pay a significant penalty for false or misleading advertising regarding a credit fund.

Formal complaints have been filed against ASIC in response to the regulator’s contempt of court allegations regarding Mayfair 101.

ASIC has filed a contempt application against a Mayfair 101 director who allegedly breached court orders related to raising funds via financial products.